Gold Fell From One-Month Highs

Gold fell from one-month highs on Wednesday after better-thanexpected U.S. jobs data boosted U.S. bond yields and the dollar but losses were limited after minutes from the Federal Reserve's March policy meeting were released. Bullion pared some losses after the Fed's minutes showed most policymakers think the central bank should take steps to begin trimming its $4.5 trillion balance sheet later this year as long as the economic data holds up. 

Earlier in the session, the ADP National Employment Report showed that U.S. private employers added 263,000 jobs in March, beating economists' forecasts of 187,000 additions . U.S. 30-year Treasury yields and the U.S. dollar hit session highs immediately after the Fed minutes were released but gave up most gains later in the session. Gold has risen 8.8 percent so far this year and has held just under its 200-day moving average since late March.

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Suhani Verma

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